USS trustee opts to take a longer view of the pension fund amid Covid-19 turmoil
This isn’t the moment to be making hasty decisions. The shock caused by the coronavirus pandemic to the world economy, as well as to the basic assumptions of everyday life, means a lot of inessential decision-making is staying at home right now.
The trustee board of the Universities Superannuation Scheme has decided to give itself time to assess the damage done to the pension fund by the recent turmoil in global equity markets. As we reported on Research Professional News yesterday, £10 billion has been wiped off the value of the USS fund since the beginning of March, but any contribution increase for members is on hold.